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What is the difference between a named insured and a deed-holder?
Wiki User
∙ 9y ago
A named insured is someone that has an insurable interest in a property. They don't need to be the deed holder. The deed holder is the person that owns the property.
For example if you rent a house from someone. You have a insurable interest in your property that is inside the house. The deed holder has an insurable interest in the house itself and not the contents that are not fixtures. So the insurance company could issue a renters policy to the renter and he would be a named insured and the insurance company could issue a policy to the owner and he would be a named insured. 2 different policies covering different things.
Wiki User
∙ 9y ago
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What is the difference between comprehensive and third party insurance?
Comprehensive coverage is covers the interests of the named insured. A third party insurance policy will not cover you. It only covers the interests of that named third party insured.
Will an insurance company defend an additional insured when the named insured is not named in the lawsuit?
YES
What is the difference between a named insured and an additional insured on a general liability policy?
Attorneys will often say there is no difference, when it comes to extending coverage for legal liability. However, depending the specific additional form used there might be substanial differences in the portion of the general liabilty policy that is extended to the named insured versus the additional insured. For instance, older additional insured forms (CG 2010 11/85) extended coverage to the additional insured for "Products/Completed Operations". New forms use wording such as "ongoing operations of the named insured" that limit coverage to the additional insured to the "Premise/Operations" portion of the CGL form. In addition, an additional insured generally has no right to: * Request policy endorsements or cancellation * Receive copies of the policy contract, other than the a/i form and a certificate of insurance The purpose of an additional insured is to protect the rights of another party that might become legally liable for the actions of the named insured. For instance, a landlord might become entangled in a lawsuit caused by the actions of his tenant. By naming the landlord as additional insured, the named insured extends coverage, especially defense costs, to the landlord. The tenant's insurance company would have to defend both the named insured and the additional insured. Additional insured's are a common and increasingly important part of liability insurance. It is important you make sure your agent is aware of the specific nature of the relationship you have with the additional insured, to ensure the proper additonal insured form is provided. I generally like to review my clients contracts - including leases - to make sure the policy and a/i form are compliant.
Can you be Named Insured on each of two separate policies for two separate homes in the same neighborhood?
You can be the named insured on a policy for any real property you own. In fact, only the owner can be the "named insured".
What if no beneficiary is named on a life insurance policy and they have a spouse what happens?
If an insured has a policy where there is no named beneficiary, or the named beneficiary is deceased, then the benefit will be paid to the insured's estate.
Who is NOT an insured on a homeowner policy?
The insured's are those specifically named on the insurance policy, Typically the homeowner(s) and dependent children would be construed as the insured's as well as listed lien or mortgage holders. Anyone not named would not be insured
What is a sentence with the word difference?
There is a type of puzzle named spot the difference
What is the difference between a serpentine?
Your question is invalid as there can only be a present difference between two (2) named things.
What is a Additional named insured?
Individual added to a life insurance policy other than the insured named in the policy. For example, an insured father can have a dependent son and daughter added to the policy as additional insureds. In many instances, adding an additional insured to an existing policy is less expensive than purchasing a separate policy for that insured. In property and liability insurance: another person, firm, or other entity enjoying the same protection as the named insured.
What is the difference between terminal and X11 on mac?
One is named X11 and the other is named terminal
Insurance is said to follow the person not the property?
No, a homeowner's policy lists both a named insured and an insured location.
What is a person covered by an insurance policy?
The named insured(s).
